AT&S World

through current operations. The remaining portion was covered
by corresponding borrowings. According to the expansion phase,
the gearing ratio amounts to 84% at the balance sheet date and
thus exceeds the prior-year figure of 71%, with the currency
translation differences in equity having an adverse effect on this
ratio in the financial year 2010/11. For details on the calculation
method of the ratios and additional explanations, reference is
made to the notes to the consolidated financial statements, section
“II. Risk report”.
Under the investing activities of AT&S, additions to property,
plant and equipment and intangible assets totalled EUR 133.4
million in the financial year 2010/11. The investments primarily
relate to the completion of the existing plant in China and the
construction of a second plant in India, but also equipment for
new technologies and innovation projects in the Austrian plants.
On an annual average, AT&S had 6,987 employees (including
leased personnel) in the financial year 2010/11 and thus 1,371
more than the prior-year average (2009/10: 5,616). The headcount
increased mainly due to the expansion of the locations in China
and India, but also at the Austrian locations the headcount increased
again as a result of the better utilization. The shifting of
the headquarters from Vienna to the Comany’s domicile, which
was decided and implemented in the past financial year, was accompanied
by a social plan. Regarding new joiners, the transfer
of knowledge was accomplished through adequate handover and
training phases.
Well trained and motivated staff is a key factor in keeping up
with international competition. Therefore, AT&S pays special
attention to training and education programs which are designed
to promote intercultural skills in addition to professional competencies.
In technical trainings, intercultural trainings and special
management and executive development programmes AT&S
staff is adequately prepared for current and future challenges.
In order to promote young talent apprentices are trained in five
different fields of specialization in Austria, and in India AT&S
is heavily involved in a training program for industrial workers.
A transparent and performance-oriented compensation system
promotes the entrepreneurial thinking and acting of staff. Since
the financial year 2010/11, the bonus system has been based on
the key ratios “cash earnings” and “ROCE” and thus has been revised
over the previous years. The inclusion of the cash earnings
ratio is also in line with AT&S’s dividend policy of the previous
years.
Group Management Report 2010/11
Sustained management and economical use of available resources
are of the highest priority for AT&S. AT&S combines the three
factors quality – environment – human being in an integrated
management system. This uniform body of regulations is based
on the international quality standard ISO 9001, ISO/TS 16949
(quality management of the automotive industry), the environmental
standard ISO 14001, as well as on the standard OHSAS
18001 for the area of safety and health. Regular internal audits
and inspections by independent third parties confirm the compliance
with the management system for the financial year 2010/11.
In addition to the already existing inclusion of all AT&S plants
in the integrated management system, the manufacture of SMT
(surface mount technology) in South Korea was certified according
to ISO 9001 and ISO/TS 16949.
Of particular concern are the safety, health and performance of
AT&S staff. Related activities conducted worldwide are in line
with the safety and health management system OHSAS 18001.
The long-term success of the numerous programs shows in the
reduction of the accident rate by 43% over the year 2008.
With regard to environmental protection, it has to be noted
that AT&S as one of the first printed circuit board manufacturers
implemented the environmental management according to
ISO 14001 already in the financial year 1996/97. Since AT&S
takes environmental protection measures far beyond the statutory
minimum requirements, AT&S is even regarded as a pioneer
in environmental matters by certification authorities. So,
for instance, AT&S China received the “Long-term Partnership
Enterprise in Promoting Environmental Protection” award from
the Shanghai Environmental Protection Bureau, and AT&S India
received the Elcina-Dun&Bradstreet award in the category “Environment
Management Systems”.
The economical use of resources is a key goal in the continuous
improvement of products, procedures and processes. Current
projects involve the sustained annual reduction of CO 2 emissions
per printed circuit board in all plants, a photovoltaic plant at the
Leoben-Hinterberg location for electricity generation, innovative
wastewater treatment plants at the Shanghai and Nanjangud
locations as well as the introduction of new technologies for
the regeneration of chemicals and recycling of printed circuit
board scrap. The main raw materials used in the financial year
2010/11 included approx. 1,010 kg of gold (2009/10: 880 kg),
2,400 tons of copper (2009/10: 1,600 tons), 11.3 million m 2 of
laminates (2009/10: 8.5 million m 2 ) and approx. 47,300 tons of
different chemicals (2009/10: 35,800 tons). The electricity de-
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